ARTICLES LABELLED WITH TAG Budapest

VGP enters the Budapest market by purchasing a 38 ha development site at the strategic location of Üllő, adjacent to Budapest Liszt Ferenc International Airport. The development potential of VGP Park Budapest Aerozone is approx. 125,000 sqm.

Local residential developer Metrodom has bought a 15,000 sqm plot on Budapest's Soroksári út, where it plans to build a new residential quarter, property advisor CE Land, which brokered the deal, announced.

Following the sale of the Buda Square and Margit Palace office buildings in November last year, Budapest-based Adventum Zrt. has sold another asset from its Adventum TRIUM Real Estate Fund portfolio, the Máriássy 5 office building and the associated development area.

Infopark buildings B, C and I, all owned by Wing, received a BREEAM-In-Use Very Good sustainability certification. The certification was earned with energy and water-efficient management and operation, selective waste collection, and the features of the buildings that contribute to the well-being and health of those using them. Located at the Buda end of the Rákóczi bridge, Infopark is majority-owned by Wing – the company owns buildings B, C, D and I, with a total area of 100,000 sqm.

Hungarian developer Futureal and MKB Bank have signed a loan agreement for nearly €50 million (approx. HUF 17 billion) to finance the third phase of its Budapest ONE office park project. The final phase of the office complex will be completed in the second half of 2022.

The first column has been placed of the first 45,000 sqm warehouse in Fót, which is an important milestone in launching one of Hungary’s largest industrial and logistic developments by HelloParks, a member of Futureal Group, after the first tenants started to move into another megapark of the company in Maglód. For this energy-efficient, BREEAM sustainability standard-compliant facility that is developed as a part of a greenfield investment close to the Hungarian capital, the composition of the tenants is already outlined: negotiations are at an advanced stage, mainly with e-commerce, parcel logistics and courier businesses, as well as logistics companies serving a single manufacturing company.

The property markets of individual countries are affected by a number of external factors, so it is not evident that they are doing equally well in a small region like CEE. What are the strong and weak points of Hungary's property market compared to other countries in the region? How successfully has it weathered the COVID crisis? What will be the best development and investment opportunities in the coming period? These were the questions discussed by the international investors’ panel at the 2021 edition of Property Investment Forum in Budapest.

Etele Plaza is going to open its doors to the public at 10 AM on September 17, 2021. Budapest’s latest shopping and entertainment centre located in the immediate vicinity of Etele square, Kelenföld will offer a range of stores and services. Futureal’s €300 million development is also the first smart shopping centre in Hungary.

Shoppers are becoming increasingly conscious and are looking for easily accessible, environmentally friendly shopping centres that also have outdoor green areas, a representative survey called "The role of shopping centres in the 21th century" by Westend and Marketing Resolution found. The survey examined the customer habits of people living in Budapest and its suburbs, including how often they visited their favourite malls, what experiences they were looking for there or what products were in highest demand.

ConvergenCE closed the sale of the Árpád Center office building at the end of summer 2021. The property at the junction of Árpád Bridge and Váci Road was acquired by Investum Kft. During the transaction, ConvergenCE was represented by Cushman & Wakefield.